Saratoga Investment Corp (SAR) was Initiated by Compass Point to “Neutral” and the brokerage firm has set the Price Target at $18. Compass Point advised their investors in a research report released on Jul 26, 2016.
Saratoga Investment Corp opened for trading at $17.46 and hit $17.5 on the upside on Wednesday, eventually ending the session at $17.5, with a gain of 0.81% or 0.14 points. The heightened volatility saw the trading volume jump to 29,764 shares. Company has a market cap of $100 M.
In a different news, on Jul 7, 2016, Christian L Oberbeck (CEO) purchased 1,586 shares at $17.08 per share price. According to the SEC, on Jan 19, 2016, Steven M Looney (director) purchased 500 shares at $14.53 per share price. On Jan 22, 2015, George Cabell Iii Williams (director) purchased 5,199 shares at $15.27 per share price, according to the Form-4 filing with the securities and exchange commission.
Saratoga Investment Corp. is an externally managed closed-end non-diversified management investment company. The Company’s investment objective is to generate current income and to a lesser extent capital appreciation from its investments. The Company’s portfolio consists primarily of investments in leveraged loans (both first and second lien term loans) issued by middle market companies. The Company also purchases mezzanine debt and makes equity investments in middle market companies. As of February 28 2015 the Company had investments in 34 portfolio companies. As of February 28 2015 the Company’s overall portfolio consisted of 7.6% of syndicated loans 60.3% of first lien term loans 14.8% of second lien term loans 1.8 % of unsecured notes 7.1% of subordinated notes of Saratoga Investment Corp. collateralized loan obligation (CLO) 2013-1 Ltd. (Saratoga CLO) and 8.4% of common equity. The Company is externally managed and advised by Saratoga Investment Advisors LLC.